Pet Financing – HSMC Ohio http://hsmcohio.com/ Fri, 24 Sep 2021 09:25:03 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://hsmcohio.com/wp-content/uploads/2021/04/default-150x150.png Pet Financing – HSMC Ohio http://hsmcohio.com/ 32 32 Citron Research Short Seller Andrew Left on Evergrande Debt Crisis https://hsmcohio.com/citron-research-short-seller-andrew-left-on-evergrande-debt-crisis/ https://hsmcohio.com/citron-research-short-seller-andrew-left-on-evergrande-debt-crisis/#respond Fri, 24 Sep 2021 07:49:23 +0000 https://hsmcohio.com/citron-research-short-seller-andrew-left-on-evergrande-debt-crisis/ Andrew Left, Founder and CEO of Citron Research Adam Jeffery | CNBC Andrew Left, an American short seller banned from trading in Hong Kong for a damning report he wrote about Evergrande years ago, said the Chinese real estate developer’s debt crisis was “long lasting.” But he told CNBC he doesn’t think the Evergrande situation […]]]>

Andrew Left, Founder and CEO of Citron Research

Adam Jeffery | CNBC

Andrew Left, an American short seller banned from trading in Hong Kong for a damning report he wrote about Evergrande years ago, said the Chinese real estate developer’s debt crisis was “long lasting.”

But he told CNBC he doesn’t think the Evergrande situation points to a widespread problem for China.

“The Evergrande situation was a long time coming and China had to get rid of this from its system. It’s not a Lehman moment and it’s not systemic,” Left told CNBC in an email.

He was referring to the collapse of Lehman Brothers in 2008, the world’s fourth-largest investment bank at the time, which filed the largest corporate bankruptcy in US history. This bankruptcy spread to other banks, triggering the global financial crisis.

Left, the founder of Citron Research, was banned from trading in Hong Kong markets after he released a 2012 report predicting Evergrande would soon be insolvent.

His five-year ban ends next month.

In an email interview with CNBC, Left said, “Everything I have discussed, from influence to corporate governance has turned out to be true, and instead of considering my report, the SFC … Forced me to spend millions to defend myself. “

He was referring to the Hong Kong Securities and Futures Commission (SFC), who alleged that Left had published a report with “false and misleading” information about Evergrande, including his accusation at the time that the property developer was engaged in accounting fraud.

Following the SFC’s allegations, Hong Kong Market Misconduct Court found Left guilty. The tribunal is an independent body that reviews cases of market misconduct, including insider trading and stock market manipulation.

I believe China has a plan to solve this problem. It might not be pretty, but it’s a long time coming and they will save the system from the bottom up.

André Left

founder of Citron Research

Left’s accusations – that Evergrande was insolvent and committed accounting fraud – seem never to have been proven. The court in 2015 denied his request for production of records and documents of Evergrande.

Evergrande was not available for comment when contacted by CNBC. CNBC has contacted the Hong Kong Securities and Futures Commission, which declined to comment on the report.

The escalating crisis in Evergrande – the world’s most indebted developer, with $ 300 billion in liabilities – rocked global markets this week. The company is the second-largest Chinese developer in terms of turnover and has a strong presence in the country, operating in sectors ranging from real estate to electric vehicles and healthcare services.

Evergrande has said he could default on his debt, with a large $ 83 million interest payment due Thursday. Analysts also warned that it would likely default. Investors are watching developments closely, amid fears of contagion that could spill over to other markets.

Left said that Evergrande’s current liquidity crisis proves he was right when he wrote his 52-page report in 2012. Short selling is an investment strategy that involves selling borrowed stocks from a share, in the hope of buying them back at a lower price. and earn money from the difference.

Learn more about China from CNBC Pro

“10 years ago, I wrote about how the company plays fast and freely with debt and uses aggressive accounting to hide its true financial health. I continued to talk about how the company’s favorite projects cost money. billion dollars in all off-balance sheet financing, ”Left said. .

“Now everything I wrote has come true and the Chinese people are suffering. It shows the importance of free speech and short selling in the markets,” Left said.

Angry Chinese investors have shown up at protests in recent weeks demanding their money back. Foreign investors, which include major asset managers around the world, are waiting to see if Evergrande will be able to pay two interest payments due Thursday and next week.

“China has a plan”

The crisis will wipe out the company’s stock, Left predicted.

“The stocks are worth nothing to Evergrande and the bonds are questionable,” he said. Evergrande shares have fallen more than 80% since the start of the year and its bond yields have skyrocketed. Bond yields and prices move in opposite directions: the higher the yield, the lower the bond price.

Even though the Chinese developer is in serious trouble, Left said the impact will be limited.

“Chinese banks will take a manageable hit and people will have a government-assisted landing,” he said. “I think it’s not systemic and won’t affect future investment in China or Hong Kong. I think the regulation of the tech sector is a lot scarier than that.”

“I believe China has a plan to unravel this. It might not be pretty, but it takes time and they will save the system from the bottom up,” he added.

Left’s rebuttals to Hong Kong regulators’ decision

Left was banned from trading on the Hong Kong stock markets in 2016, after the city’s market misconduct court found him guilty of market misconduct in connection with the Evergrande report.

The court also ordered him to repay 1.6 million Hong Kong dollars ($ 205,000) he had earned from short-selling the stock.

Here’s what Hong Kong regulators claimed he did – and his rebuttal at every point.

1. Market misconduct

Regulators accused Left of market misconduct in releasing the report. In the report, he said Evergrande was insolvent and defrauded investors. The court said Left’s claims were false and misleading.

Left said the report said Evergrande was or “soon will be” insolvent because the company’s cash flow “cannot handle” the amount of debt and off-balance sheet activity.

“I backed him up with photos and testimonials from nationwide protests. Their claim was ludicrous. I think we are seeing it now,” he said, referring to the current liquidity crunch.

“Now look who is paying the price – the poor employees and the people who trusted Evergrande with the deposits,” he said.

2. Lack of knowledge of local accounting practices

Regulators said Left had little knowledge of local accounting standards and financial reporting, and that he had not checked with experts or the company to verify the information he received.

Left says he was using GAAP, a common set of accounting principles and standards published by the United States Financial Accounting Standards Board that companies listed in the United States must follow.

“The fact that I was using GAAP standards and not Hong Kong accounting [standards] on a few data points does not negate the tone or message of the report, ”he said.

He told CNBC the courts would not allow him to question Evergrande’s CFO or the company when faced with the allegations.

“I had a trial where I wasn’t even allowed to question the company. It was so one-sided,” he said.

3. Negligence

The court accused Left of being negligent in publishing the report.

Left insisted he was not neglectful. “What if I were, are they going to lay charges against every investment bank that has a target of $ 30 on the stock and has generated huge bank fees without looking at the evidence?” he asked in the email. “It’s neglect.”

Evergrande stock was at 2.58 Hong Kong dollars ($ 0.33) on Thursday morning, after falling more than 80% year-to-date.


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Synchrony to Report Third Quarter 2021 Financial Results on October 19, 2021 | national news https://hsmcohio.com/synchrony-to-report-third-quarter-2021-financial-results-on-october-19-2021-national-news/ https://hsmcohio.com/synchrony-to-report-third-quarter-2021-financial-results-on-october-19-2021-national-news/#respond Thu, 23 Sep 2021 21:34:00 +0000 https://hsmcohio.com/synchrony-to-report-third-quarter-2021-financial-results-on-october-19-2021-national-news/ STAMFORD, Connecticut., September 23, 2021 / PRNewswire / – Synchrony (NYSE: SYF) expects to release its third quarter 2021 results on Tuesday, October 19, 2021. Publication of results and presentation materials should be published and published in the Investor Relations section of the Company’s website, www.investors.synchronyfinancial.com, around 6:00 a.m. Eastern Time. A conference call to […]]]>

STAMFORD, Connecticut., September 23, 2021 / PRNewswire / – Synchrony (NYSE: SYF) expects to release its third quarter 2021 results on Tuesday, October 19, 2021. Publication of results and presentation materials should be published and published in the Investor Relations section of the Company’s website, www.investors.synchronyfinancial.com, around 6:00 a.m. Eastern Time. A conference call to discuss the results of Synchrony will be held at 8:00 a.m. Eastern Time That day; the live audio webcast and replay can be accessed through the same website under Events and Presentations.

About synchronization

Synchrony (NYSE: SYF) is a leading consumer financial services company. We offer a wide range of specialized financing programs, as well as innovative banking products for consumers, in key industries such as digital, retail, home, automotive, travel, health and animals. of company. Synchrony allows our partners to increase their sales and retain consumers. We are one of the largest private label credit card issuers in United States; we also offer co-branded products, installment loans and consumer finance products for small and medium-sized businesses, as well as healthcare providers.

Synchrony is changing what’s possible with our digital capabilities, deep industry expertise, actionable data insights, seamless customer experience, and personalized financing solutions.

For more information visit www.synchrony.com and Twitter: @Synchrony.

Contacts

Investor Relations:

Catherine miller

(203) 585-6291

kathryn.miller@syf.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/synchrony-to-announce-third-quarter-2021-financial-results-on-october-19-2021-301383141.html

SOURCE Synchrony Financial


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A Senate hearing asks the question: “Can plastic recycling be more like paper?” https://hsmcohio.com/a-senate-hearing-asks-the-question-can-plastic-recycling-be-more-like-paper/ https://hsmcohio.com/a-senate-hearing-asks-the-question-can-plastic-recycling-be-more-like-paper/#respond Wed, 22 Sep 2021 20:08:42 +0000 https://hsmcohio.com/a-senate-hearing-asks-the-question-can-plastic-recycling-be-more-like-paper/ The latest U.S. Senate hearing on recycling and the circular economy saw lawmakers make some very unfavorable comparisons between recycling rates for plastics and other packaging materials. Senator Shelley Moore Capito, RW.Va., for example, questioned before the Environment and Public Works Committee on September 22 audience what the paper industry and its recycling rate of […]]]>

The latest U.S. Senate hearing on recycling and the circular economy saw lawmakers make some very unfavorable comparisons between recycling rates for plastics and other packaging materials.

Senator Shelley Moore Capito, RW.Va., for example, questioned before the Environment and Public Works Committee on September 22 audience what the paper industry and its recycling rate of around 65% could teach the plastic packaging industry and its recycling rate of 13%.

“We’ve heard a lot about plastics and low numbers,” Capito said, asking a witness from the paper industry what “lessons learned” from this industry “might correlate to more efficient and successful plastics recycling. “.

Likewise, Senator Debbie Stabenow, D-Mich., Noted the paper recycling rate of over 60% and said, “I wish we had the same in plastics and other materials.

In a hearing that covered many topics, other lawmakers focused on bottle deposits and extended producer responsibility (EPR) programs, including a joint plan of the American Beverage Association and the World Wildlife Fund.

ABA and WWF published a plan in June which calls for federal EPR programs, with some degree of flexibility at the state or local level, and they noted that this could include “tipping fee surcharges, bond return systems and new infrastructure financing programs “.

Roberta Elias, director of policy and government affairs for WWF, told the audience that the beverage industry wants higher recycling rates to provide enough high-quality materials to meet recycled content targets.

She referred to the Break Free from Plastic Pollution Act, sponsored by EPW committee member Senator Jeff Merkley, D-Ore., And said the ABA and her group both supported the concepts of this. bill, which called for a national EPR system and a national container repository. system.

EPR plans typically require industry to financially support or manage recycling programs, rather than primarily making it a government-funded business.

“WWF, ABA and many others support Break Free concepts,” Elias said. “We hope that the autonomous EPR will eventually pass.

“We also hope that this chamber will make the most of moving vehicles, especially to secure public-private investment in infrastructure, a national deposit system and a levy on virgin plastic such as the one articulated in Sen. [Sheldon] Reduce Whitehouse’s Law, ”she said in her opening speech.

Whitehouse, DR.I., introduced a 20-cent per pound tax on virgin resin used in single-use plastic packaging in August, and that would be considered part of the Senate Democrats’ tax and social spending plan $ 3.5 trillion.

Senators did not directly debate Whitehouse or Merkley’s legislation, but there were clear signs of disagreement over the role of government among lawmakers.

The top-ranked Republican on the panel, Capito, said that while she shared her concerns about the challenges of recycling, she was challenging some unspecified plans offered by colleagues.

“Although some of my congressional colleagues have proposed various policies, regulations and mandates do not create effective markets in the long run,” she said. “Falsely inflating the recycled products market with federal dollars doesn’t help either. It just prolongs the unsustainability of the sector, which could end up where we are today when the funding is gone. “

Still, Capito noted the financial burdens on cities’ recycling programs when China stopped importing less valuable waste in 2018. These problems were underscored by a lack of US demand for recycling.

She pointed to a Senate workshop that she and EPW President Senator Tom Carper, D-Del., Hosted earlier in September, where they looked at technological advancements in the recycling industry.

“For example, one company successfully recycled more than 2 million pounds of post-use polystyrene at its Oregon plant through chemical recycling,” Capito said, apparently referring to the PS recycling facility at Agilyx in Tigard, in the Ore.

“The best way to meet the declining demand for recycled materials is to develop new markets and innovative technologies,” she said.

But some of his fellow Democrats made pointed references to the challenges of plastic pollution in the environment and called for stronger government action.

Whitehouse said at least 98% of plastic products today are made with virgin resin.

“It’s basically entirely new plastic coming in, there is essentially no significant recycled contribution,” he said. “There is a lot of noise and talk about recycling. The industry loves to talk about recycling, I think to help create the overall appearance that plastic is recycled.”

“It’s kind of a performance art, to defend a relatively false narrative that recycling is real,” Whitehouse said.

Merkley pointed to very different PET bottle recycling rates in different states, depending on whether or not they have container depots.

He noted a recent study that found five states have PET bottle recycling rates over 50% – Maine, Oregon, California, New York and Vermont – while in most states the rate is less than 20%. He interviewed a witness for the state government of North Carolina, where he said the recycling rate for PET bottles was only 8%.

“No state has succeeded in recycling a significant amount of bottles without a deposit system,” Merkley said.

The hearing had no witnesses from the plastics industry, but the American Chemistry Council said it submitted official comments and issued a press release noting its five-point plan for federal legislation, including the REP and for regulations requiring 30% recycled content in plastic packaging by 2030..


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Greystone is providing $ 13.6 million in bridge funding for https://hsmcohio.com/greystone-is-providing-13-6-million-in-bridge-funding-for/ https://hsmcohio.com/greystone-is-providing-13-6-million-in-bridge-funding-for/#respond Wed, 22 Sep 2021 14:56:09 +0000 https://hsmcohio.com/greystone-is-providing-13-6-million-in-bridge-funding-for/ NEW YORK, Sept. 22, 2021 (GLOBE NEWSWIRE) – Greystone, a leading national commercial real estate finance company, has provided a $ 13,650,000 bridge loan to refinance a 168-unit multi-family property in Tallahassee, Florida. The transaction was initiated by Kyle Jemtrud, Managing Director of Greystone’s Minneapolis office, on behalf of Pax Properties LLC. Greystone’s variable rate, […]]]>

NEW YORK, Sept. 22, 2021 (GLOBE NEWSWIRE) – Greystone, a leading national commercial real estate finance company, has provided a $ 13,650,000 bridge loan to refinance a 168-unit multi-family property in Tallahassee, Florida. The transaction was initiated by Kyle Jemtrud, Managing Director of Greystone’s Minneapolis office, on behalf of Pax Properties LLC.

Greystone’s variable rate, interest-only bridge financing has a 24-month term with two six-month extension options, with the intention of moving to permanent HUD financing. In addition to refinancing, the loan allows the borrower to pursue the continuous improvement of the property’s fixed assets.

Originally built in 1974 and recently renovated, Renaissance apartments consists of 13 garden style buildings with one, two and three bedroom units featuring modern appliances and high end finishes, walk in closets, washer / dryer hookups in the unit and living areas private exteriors. Residents can enjoy the outdoor pool, pet-friendly community lodge and business center, playground, picnic area, laundry facilities, and on-site parking. Conveniently located near major highways, the property offers easy access to downtown Tallahassee, Tallahassee International Airport, and area medical centers, colleges and universities, including Florida State University.

“Greystone’s HUD transition process helps our clients access the capital they need while seeking a permanent financing solution,” said Jemtrud. “Our in-depth knowledge of the multi-family market, coupled with our in-depth lending platform, means we can close these transactions quickly and transparently so our clients remain focused on building and managing the properties of their portfolios.”

“Our Greystone team shared our vision and saw our needs as theirs, providing us with the bridge financing we needed on an extremely short notice while working with us to secure a permanent solution,” said Mr. Justin Ford, director of Pax Properties LLC. “They are true partners and professionals in every sense of the word, and their multi-family lending platform is unprecedented. “

About Greystone
Greystone is a national private commercial real estate finance company with an established reputation as a leader in multi-family and healthcare finance, having been ranked among the top lenders by FHA, Fannie Mae and Freddie Mac in these sectors. Loans are offered by Greystone Servicing Company LLC, Greystone Funding Company LLC and / or other companies affiliated with Greystone. For more information, visit www.greystone.com.

PRESS CONTACT:
Karen marotta
Gray stone
212-896-9149
Karen.Marotta@greyco.com


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ParkLine Apartments in Brightline Miami for Sale https://hsmcohio.com/parkline-apartments-in-brightline-miami-for-sale/ https://hsmcohio.com/parkline-apartments-in-brightline-miami-for-sale/#respond Tue, 21 Sep 2021 21:00:00 +0000 https://hsmcohio.com/parkline-apartments-in-brightline-miami-for-sale/ ParkLine MiamiCentral Florida East Coast Industries is looking to capitalize on the trending multi-family market by listing luxury apartment towers from Brightline Station to MiamiCentral for $ 500 million. ParkLine Miami, an 816-unit two-tower development located at 100 Northwest Sixth Street, has been marketed with a team from Cushman & Wakefield led by Robert Given […]]]>

ParkLine MiamiCentral

Florida East Coast Industries is looking to capitalize on the trending multi-family market by listing luxury apartment towers from Brightline Station to MiamiCentral for $ 500 million.

ParkLine Miami, an 816-unit two-tower development located at 100 Northwest Sixth Street, has been marketed with a team from Cushman & Wakefield led by Robert Given and Troy Ballard, according to a press release. The buildings, above MiamiCentral Station, include approximately 500,000 square feet of retail space under construction.

The listing is one of the largest apartment listings in South Florida and throughout Southeast.

Leasing began early last year and the 44 and 47 story buildings are now over 90% leased, with average monthly rents of $ 3.28 per square foot, or nearly $ 3,000 per unit. , according to a spokesperson.

ParkLine MiamiCentral (Miranda Kruse from Miss Takes)

ParkLine MiamiCentral (Miranda Kruse from Miss Takes)

Amenities include a 2-acre deck, pool and jacuzzi, cabanas and day beds, lap pool, movie theater, 3,500 square foot gym, and running track . The buildings also have outdoor dining areas with grills, a dog park and pet spa, a business center, club room and bicycle storage. .

Investor demand for South Florida multi-family properties remains strong, particularly among out-of-state buyers. In August, Cortland bought the seven Uptown Boca buildings for $ 230 million, marking the most expensive sale of the year. It was 99% leased at the close of the deal.

Parkline Miami is part of a larger mixed-use development that includes additional retail, a 26,000 square foot food hall by Sam Nazarian’s C3 and two office buildings.

In 2019, the company sold the office portion of the development, 2 and 3 MiamiCentral, to Shorenstein Properties for $ 159.4 million. In March, Shorenstein sold the buildings to Blackstone Group for $ 230 million.

Miami-based FECI, which is owned by private equity funds managed by subsidiaries of Fortress Investment Group, recently secured $ 200 million in new financing related to seven redevelopment properties near Brightline stations downtown from Miami and downtown Fort Lauderdale.

Brightline is expanding with stations in Aventura and Boca Raton slated to open next year. Rail service also plans to complete the construction phase of Orlando by the end of next year.

Brightline has suspended operations between downtown Miami, Fort Lauderdale and West Palm Beach at the start of the pandemic and plans to resume rail service in early November.


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Newark Apartment Complex Celebrates $ 30 Million Renovation Project | https://hsmcohio.com/newark-apartment-complex-celebrates-30-million-renovation-project/ https://hsmcohio.com/newark-apartment-complex-celebrates-30-million-renovation-project/#respond Tue, 21 Sep 2021 05:00:00 +0000 https://hsmcohio.com/newark-apartment-complex-celebrates-30-million-renovation-project/ The refurbishment of the Thorn Flats and Lehigh Flats apartment complexes is close to the competition, marking their conversion from predominantly student accommodation to market-priced apartments. Company and city officials gathered on September 15 to cut the ribbon on the renovated apartment complexes of Thorn Lane and Lehigh Road. “You have set a standard for […]]]>

The refurbishment of the Thorn Flats and Lehigh Flats apartment complexes is close to the competition, marking their conversion from predominantly student accommodation to market-priced apartments.

Company and city officials gathered on September 15 to cut the ribbon on the renovated apartment complexes of Thorn Lane and Lehigh Road.

“You have set a standard for apartment living in Newark that, in my opinion, is pretty much unmatched at this point,” Mayor Jerry Clifton told company executives. “I cannot thank you enough for your investment in Newark and for the work you do to house the residents of Newark.

Formerly known as Studio Green and Park Place Apartments, the resorts were purchased in 2019 by the Galman Group for a combined price of $ 41 million. At the time, the apartments were foreclosed and 75% vacant.

Based in Jenkintown, Pa., Galman manages 6,000 apartments in the Delaware Valley, including Cooper’s Place near Brookside and Buckingham Place Townhomes off Old Baltimore Pike.

The $ 30 million renovation project included redesigned floor plans, new bathrooms and updated flooring, cabinets, fixtures and appliances. Galman also upgraded the pavilion, which now includes a movie theater, swimming pool, game room, business center, showroom kitchen, and pet spa.

The work was carried out building by building and should be completed by the end of October. The two complexes have a total of 700 units.

While Studio Green and Park Place were largely aimed at students – the previous owner was Campus Living Villages, which operates student housing complexes across the country and abroad – Galman targets employees at the University’s STAR campus of Delaware, professors, young professionals and others.

Unlike other developers who made similar promises and then turned to target students, Thorn Flats and Lehigh Flats are currently only 30 percent students, said Galman president Sam Goldstein.

The company is carefully monitoring the number of student tenants as student occupancy above 40 percent would affect the funding of the project, he added.

“The city of Newark is a thriving hub of innovation led by the growing STAR campus at the University of Delaware, as well as Wilmington-based research institutes that choose to expand here. Providing a high quality, premier residential community is essential to supporting Newark’s evolution, ”said Goldstein. “Thorn Flats is another rung of the infrastructure ladder that is helping to cement Newark as a leader in the technology industry.”

Rent starts at $ 1,103 per month for a studio and can reach $ 1,629 for a two-bedroom unit with a boudoir.

During the ceremony last week, Galman donated 200 smoke detectors to Aetna Hose, Hook and Ladder Company, which has a station adjacent to Thorn Flats.

“We’ve been neighbors since 1985, so we’ve seen this property here change a lot over the years – some for good, some for bad,” said Aetna chairman Dan Seador. “I dare say that some previous owners really struggled to make this a flagship resort. I think most of them failed. I’m looking around today for what you have here, and it’s amazing. It really is a centerpiece. We are happy to be neighbors of this project.


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Project to connect community of Donovan Smith to Lewes sewage system goes ahead https://hsmcohio.com/project-to-connect-community-of-donovan-smith-to-lewes-sewage-system-goes-ahead/ https://hsmcohio.com/project-to-connect-community-of-donovan-smith-to-lewes-sewage-system-goes-ahead/#respond Sun, 19 Sep 2021 15:00:41 +0000 https://hsmcohio.com/project-to-connect-community-of-donovan-smith-to-lewes-sewage-system-goes-ahead/ The Delaware Department of Natural Resources and Environmental Control announced on September 14 that a plan to connect the Donovan Smith mobile home park to the Lewes Public Works Commission sewer system was running from the before. After months of negotiations, DNREC officials said conditional approval had been obtained by the owner of the park. […]]]>

The Delaware Department of Natural Resources and Environmental Control announced on September 14 that a plan to connect the Donovan Smith mobile home park to the Lewes Public Works Commission sewer system was running from the before.

After months of negotiations, DNREC officials said conditional approval had been obtained by the owner of the park. The community owner’s lender had to approve the financing deal for the publicly funded loan to cover the hookup, officials said.

“There are a number of manufactured home communities in our state – particularly in the upstate – with long-standing septic problems where the cost of a sewer connection on residents would be a huge financial burden. Finding a way to enforce sewer hook-up without overburdening residents or potentially bankrupting the park – and leaving residents with no place to live – is the tightrope that we must walk, and that state funding backed by Governor Carney makes it possible, ”said DNREC Secretary Shawn M. Garvin. “We are working to make a difference in the lives of these residents and in the environment, one step at a time.”

The mobile home park also received its second notice of violation on September 13, officials said. It was issued after a compliance inspection and two investigations of environmental complaints revealed multiple violations associated with several small on-site sewage treatment and disposal systems within the community that had not previously been addressed. in a July notice of violation. One of the issues involved a collapsing septic tank with sewage overflowing and accumulating on the ground, with no barriers or fences preventing human or animal contact with the untreated sewage, a significant public health hazard. , officials said.

This second violation cites Donovan Smith MHP for delays, as well as additional violations that have occurred since July. Although Donovan Smith MHP has since started pumping the system and submitted a preliminary corrective action plan, officials said, this second violation requires additional interim corrective action. The DNREC enforcement action also includes changes to the corrective action plan to address additional violations, monthly communication with community residents on the status of corrective actions, and more rigorous inspection and reporting to mitigate additional environmental and public health issues until the sewer connection is completed. achieved.

The first violation documented Donovan Smith MHP’s continued non-compliance and set deadlines for the park to correct the problem and move forward with the sewer hookup with funding from the Clean Water Initiative. Although the DNREC has received updates from Donovan Smith MHP regarding the interim corrective actions taken, officials said, the initiation of the required system drains and submission of a corrective action plan have not taken place. within the timeframe set in the July violation.

Donovan Smith MHP was chosen as a pilot project for the Delaware Clean Water Initiative for Underserved Communities – a program run by DNREC, the Delaware Department of Health and Human Services, and the Delaware State Housing Authority to develop a list priorities for underserved communities across the state. who have long standing water and sewage problems. The initiative aims to end water pollution at the mobile home site by moving the community from septic systems to the Lewes central sewer system. The Clean Water Initiative will use Donovan Smith’s pilot program to implement water and wastewater improvements in other similar communities, officials said.


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Democrats tackle tax, health and climate flashpoints | WIVT https://hsmcohio.com/democrats-tackle-tax-health-and-climate-flashpoints-wivt/ https://hsmcohio.com/democrats-tackle-tax-health-and-climate-flashpoints-wivt/#respond Sat, 18 Sep 2021 04:38:22 +0000 https://hsmcohio.com/democrats-tackle-tax-health-and-climate-flashpoints-wivt/ WASHINGTON (AP) – Revamp the tax code and major federal health care and environmental programs. Spend $ 3.5 trillion over 10 years, but maybe a lot less. Make sure no more than three Democrats across Congress vote “no,” because Republicans will be unanimously opposed. Try to finish in the next few weeks. And oh yes: […]]]>

WASHINGTON (AP) – Revamp the tax code and major federal health care and environmental programs. Spend $ 3.5 trillion over 10 years, but maybe a lot less. Make sure no more than three Democrats across Congress vote “no,” because Republicans will be unanimously opposed.

Try to finish in the next few weeks. And oh yes: failure means President Joe Biden’s own party will have repudiated him on the cornerstone of his national platform.

This is what Congressional Democrats face as they attempt to craft a final version of a massive bill that strengthens the social safety net and bolsters efforts to bring climate change under control. Here’s a guide to the crucial differences they need to resolve:

PRICE TAG

After weeks of negotiations, the White House and the Main Democrats have compromised a cost of $ 3.5 trillion over 10 years for the bill. This is a huge sum, although a fraction of the $ 61 trillion the government is already expected to spend during this period.

But the moderates led by the senses. Joe Manchin of West Virginia and Kyrsten Sinema of Arizona have said that $ 3.5 trillion is too expensive and that all Senate Democrats 50-50 votes are required to be successful. Biden, House Speaker Nancy Pelosi, D-Calif., And Senate Majority Leader Chuck Schumer, DN.Y., recently acknowledged what seems inevitable to many: The end cost may have to come down.

Manchin suggested limiting the total to $ 1 trillion to $ 1.5 trillion, which progressives dismiss as derisory. Liberals led by Senate Budget Committee Chairman Bernie Sanders, I-Vt., Initially said at least $ 6 trillion was needed for serious efforts to help families and curb global warming.

Eventually, a compromise will be reached, with some expecting it to be between $ 2,000 billion and $ 2,500 billion. But since House committees just finished designing a $ 3.5 trillion version of the package, a lower price means some Democratic priorities should be lowered.

TAXES

To foot much of the bill, the House Ways and Means Committee approved $ 2.1 trillion in tax increases, mostly on the rich and on business. But some details and numbers seem likely to change.

Biden, who has pledged not to raise taxes for people earning less than $ 400,000, will likely get his proposal to raise the wealthiest personal income tax rate to 39.6%. That would be an increase from the 37% approved under former President Donald Trump.

But Democrats also want to increase other levies on the wealthiest, and it’s unclear who will survive and in what form.

For example, Senate Finance Committee Chairman Ron Wyden, D-Ore., Has expressed interest in raising taxes on the value of certain large estates inherited by heirs. Ways and Means Chairman Richard Neal, D-Mass., Omitted this proposal from his panel’s plan.

In addition, Democrats want to offer popular tax credits for children, health care and child care expenses, and many low-income workers. If the size of the overall bill were to decrease, Democrats may have to save money by delaying, phasing in or phasing out or limiting some of these breaks. Some moderates say that a proposed tax credit for the purchase of electric vehicles should not go to those with the highest incomes.

Biden wants to raise the corporate tax rate from 21% to 28% but may have to settle for around 25%. Democrats face other differences when it comes to taxes on foreign corporate income and share buybacks.

MEDICINE

Three moderate Democrats have blocked a House committee from approving a top priority for Biden and the Progressives: saving hundreds of billions by letting Medicare negotiate lower prices for the pharmaceuticals it buys. Another committee approved the language, so it’s not dead.

Still, the plan is strongly opposed by drugmakers and some moderates want to water it down. A less aggressive measure could emerge.

Democrats planned to use the savings to pay for another progressive goal: expanding Medicare to cover dental, vision and hearing benefits. If the language of drug prices is diluted and produces less savings, it is unclear how the Medicare expansion would be funded.

SALT AND IRS

In a city that loves acronyms, SALT, short for state and local taxes, is on the table.

Democrats in heavily taxed coastal communities are demanding an increase to the current limit of $ 10,000 on deductions taxpayers can claim for the local and state taxes they pay. In a room where Pelosi cannot lose more than three Democratic votes, they have weight.

To ensure their support, many believe that the deduction limit will be increased. To make up for lost income, the IRS might receive additional money or banks might be required to report more information about financial transactions to the IRS, ideas to strengthen tax collections.

HOURLY

Last month Pelosi told moderate Democrats that the House would consider their top priority, a separate $ 1,000 billion bill to fund roads and other infrastructure projects, by September 27.

In what appears to be a mutual political suicide pact, progressives have threatened to vote against this bill unless moderates support the $ 3.5 trillion package the Liberals hold dear. Ideally, Democratic leaders would like to see the two bills passed together.

But with so many details hanging in the air, it seems highly unlikely that the broader social and environmental measure will be complete by then. This has raised questions about how Pelosi will keep her party’s antagonistic wings supporting the other’s priority bills and how she will lead both measures through to passage.

THE SECRET WEAPONS OF THE DEMOCRATS

Democrats have two advantages for them.

On the one hand, a failure of the effort would mean a blatant failure to implement their highest priorities, weakening their attempt to retain their majorities in Congress in next year’s election. Every Democrat knows it.

Another is Pelosi herself, who has proven to be adept at keeping Democrats together and getting the votes she needs.

House Budget Committee Chairman John Yarmuth, D-Ky., Summed up the two factors in an interview last week, describing what he told Democrats.

“I said everyone should take a stand and do their best to defend their priorities, but at the end of the day you’re going to vote for this thing,” Yarmuth said. “And by the way, have you met Nancy Pelosi?”


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GNP cuts mortgage rate above Rs 50 lakh by 50 basis points, Real Estate News, ET RealEstate https://hsmcohio.com/gnp-cuts-mortgage-rate-above-rs-50-lakh-by-50-basis-points-real-estate-news-et-realestate/ https://hsmcohio.com/gnp-cuts-mortgage-rate-above-rs-50-lakh-by-50-basis-points-real-estate-news-et-realestate/#respond Sat, 18 Sep 2021 04:06:00 +0000 https://hsmcohio.com/gnp-cuts-mortgage-rate-above-rs-50-lakh-by-50-basis-points-real-estate-news-et-realestate/ NEW DELHI: A day after the SBI and the Bank of Baroda announced their offer for the festival season, the Punjab National Bank on Friday cut the interest rate on mortgage loans above Rs 50 lakh from 0, 50% to 6.60%. “In a series of offers launched by the Punjab National Bank during the festival […]]]>
NEW DELHI: A day after the SBI and the Bank of Baroda announced their offer for the festival season, the Punjab National Bank on Friday cut the interest rate on mortgage loans above Rs 50 lakh from 0, 50% to 6.60%.

“In a series of offers launched by the Punjab National Bank during the festival season, the PNB reduced by 50 basis points (0.50%) the interest rate on mortgage loans above Rs 50 lakh.

“PNB has announced that home loans are now offered at 6.60% regardless of any upper limit,” he said in a statement.

The public lender said the rate would be tied to the applicant’s credit rating.

“This rate is also applicable to balance transfer cases and is the lowest among public sector banks,” he said.

In addition, it will offer complementary home loans at an attractive interest rate to existing cases as well as balance transfer cases.

PNB said it already offers full service fee / processing fee waiver on home, auto, personal, pension, myProperty and gold loans as part of its “Festival Bonanza offering”.

While the car loan starts at 7.15%, the personal loan starts at 8.95%, which is one of the lowest in the industry, he added.

The lender said the home loan would become more affordable for customers given the total waiver of service charges and a low interest rate starting at 6.60%.

Earlier today, PNB also reduced the RLLR linked to the external benchmark from 0.25% to 6.55%.

“The Repo Loan Rate (RLLR) increased from 6.80% to 6.55%, effective September 17, 2021 (Friday),” PNB said in a regulatory filing.

The RLLR was introduced in October 2019. It is a variable rate personal or retail loan linked to external benchmarks, such as the Reserve Bank of India (RBI) repo rate.


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Bengal plans to quit ‘reluctant’ banks https://hsmcohio.com/bengal-plans-to-quit-reluctant-banks/ https://hsmcohio.com/bengal-plans-to-quit-reluctant-banks/#respond Fri, 17 Sep 2021 19:58:36 +0000 https://hsmcohio.com/bengal-plans-to-quit-reluctant-banks/ Sources said Dwivedi is trying to make sure Chief Minister Mamata Banerjee’s pet project, the student credit card, can go smoothly. Pranesh sarkar | Calcutta | Posted on 18.09.21, 01:28 AM The government of Bengal is considering transferring its accounts from some private and public banks as it has been observed that many of them […]]]>

Sources said Dwivedi is trying to make sure Chief Minister Mamata Banerjee’s pet project, the student credit card, can go smoothly.



Pranesh sarkar

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Calcutta

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Posted on 18.09.21, 01:28 AM


The government of Bengal is considering transferring its accounts from some private and public banks as it has been observed that many of them do not participate in the government’s flagship social protection programs.

In a message to district magistrates, Chief Secretary HK Dwivedi said most private banks do not participate in programs such as student credit cards, self-help group funding and card issuance. credit kisan and that some public sector banks were reluctant to engage in student credit. map scheme.

“Under these circumstances, the state government is considering transferring all the accounts of its various departments, companies, etc. held at all private banks and a few PSU banks, which do not wholeheartedly support the aforementioned flagship programs, to banks whose required support is readily available. FS (finance secretary) is kindly requested to prepare a list of these non-participating banks, ”wrote the chief secretary.

The message is important because more than three million people have visited the recently closed Duare Sarkar camps to enroll in social assistance programs in which the government transfers money to beneficiaries’ bank accounts. “If the government does not get the support of the banks, it is not possible to provide benefits in a timely manner,” an official said.

Sources said Dwivedi is trying to make sure that Chief Minister Mamata Banerjee’s favorite project, the student credit card, can run smoothly. Under it, all students from class XI can get an unsecured loan of up to Rs 10 lakh for education.

“KCC and SHG loans are not a big headache because all PSU banks support them. But the student credit card program is denied by private banks and PSUs, ”a senior official said.

Sources said most banks are concerned about rolling out the student credit card system because it covers all categories of students and there is no guarantor. “Banks are not sure they can collect everyone’s loans. It would have been more appropriate if the government had restricted it (the regime) to certain categories, in particular students of technical subjects, ”said a source.

State government departments, district magistrates and various government agencies keep crores in the accounts of private and public banks before the money is used.

For example, deposits (or guarantees) deposited by entrepreneurs for the realization of public projects are deposited in certain private banks.

“At least a few crores are deposited under this head every day. Likewise, funds from centrally sponsored schemes are held in bank accounts before they are used. In addition, district magistrates often keep unused funds with banks, ”a source said.


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